The company claims that it has supported America in terms of jobs and investment
Published By: Patrick Arruda on January 11, 2017 01:11 pm EST
Airbus Group SE (EPA:AIR), the biggest competitor of Boeing, has proudly stated to be the US manufacturer a week before president-elect Donald Trump assumes presidency. This is a move by the company after issues of unfair trade.
Airbus is committed to the US, as this is reflective through its factory in Alabama, which employs around 1,000 employees. The factory is currently working on the single-aisle A-320 jets, which is also one of the biggest markets in the US.
The $600 million Alabama investment is something to be considered in favor of Airbus. The company has delivered to its promise by creating American jobs. Other than that, the plant is situated in an ideal location now, providing jobs and producing infrastructure in the area.
Donald Trump on the other hand, has criticized homegrown companies that have created more jobs in other countries. Airbus states that instead of growing in other countries, it has first given preference at Alabama.
The stock traded at $17.10, declining 0.18% as at 11:29 AM EST. It trades in the 52-week range of $13.25-17.35. The company possesses a market capitalization of $52.96 billion, which is quite a decent one. It has a huge year-over-year (YoY) increase of 8.68% and price to earnings (P/E) ratio of $52.96 billion. This should be able to attract more investors in the US.